The Gambia: 2023 Article IV Consultation and Request for an Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for The Gambia

International Monetary Fund

No 2024/015, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents the 2023 Article IV consultation and Request for an Arrangement under the Extended Credit Facility (ECF) with The Gambia. The ECF-supported program aims to strengthen economic recovery, tackle inflation, address foreign exchange pressures, reduce debt vulnerabilities, advance structural reforms, and foster strong and inclusive growth. The Article IV policy consultation focused on drivers of inflation, macroeconomic implications of the gender gap, climate-related risks and policies, debt sustainability, and external stability. In view of lingering vulnerabilities, including the upcoming expiration of debt service deferrals, it would be important to build fiscal and external buffers. The authorities are encouraged to persevere in their ambitious structural reform agenda, including on enhancing governance and improving the business environment to support private sector-led growth and poverty reduction. Adopting strong climate-related policies and tackling gender inequality would also support more resilient and inclusive growth.

Keywords: ECF arrangement; TA mission; reform agenda; liability positions vis-à-vis nonresident; IIP source data; foreign exchange pressure; arrangement Extended Credit Facility; article IV policy consultation; Budget planning and preparation; Global; Middle East; Africa; West Africa (search for similar items in EconPapers)
Pages: 129
Date: 2024-01-18
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